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I . Introduction II . Theoretical part 1. Definition of marketing 2. Evolution of marketing 3. Functions , principles and utility of marketing 4. Marketing strategy 5. Recommendations 6. Some specifics of marketing in Moldova III. Practical part IV. Conclusions V. Bibliography
“Marketing-Make it simple. Make it memorable. Make it inviting to look at. Make it fun to read”
Greetings, dear reader!
You are welcome to this wonderful, amazing and exciting world called marketing. You can feel some mystery about it as we don’t know much about this “confined kingdom” and it sounds almost impossible for a person in a lifetime to become acquainted with all its secrets. We ventured ourselves into one of the most ambitious project which consists of endeavouring to explore the marketing unknown realms. Here, in this paper we will try to open a small slot into it and understand some marketing strategies and principles. Firstly we shall speak about the definition of marketing and its evolution, then we shall speak about its functions, principles and utility. After that we shall try to make some recommendations. Lastly as we wanted to approach this topic from the scientifical angle and we wanted to make our own humble contribution to science we present a research. What is Marketing? This is not a question to be frowned upon in great scorn. “Don’t you know?” The typical answer to this question is not common anymore. Why? Because people become more and more aware of the fact how little they know about it and how much importance this phenomena/science holds.
What is marketing?
Marketing is defined as the process of determining the needs and wants of consumers and being able to deliver products that satisfy those needs and wants. Marketing includes all of the activities necessary to move a product from the producer to the consumer. Think of marketing as a bridge from the producer to the consumer. Marketing starts with market research, a learning process in which marketers get to know everything they can about the needs and wants of consumers, and it ends when somebody buys something. Many companies feel that services provided to customers after the purchase also are an
which still appears in the AMA's dictionary: "an organizational function and a set of processes for creating. clients. marketing management is one of the major components of business management. Theoretical part 1. satisfy the customer. delivering.production. Seen from a systems point of view. II . Definition of marketing Marketing is defined by the AMA as "the activity." 2. set of institutions. With the customer as the focus of its activities. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors. and processes for creating." It generates the strategy that underlies sales techniques. communicating. processing. The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives. and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.are included in the marketing process. packaging. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries." This replaces the previous definition. and keep the customer. The term developed from an original meaning which referred literally to going to a market to buy or sell goods or services. transportation. communicating. and business developments. and selling . and exchanging offerings that have value for customers. sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions whose methods can be improved using a variety of relatively new approaches. business communication. partners. The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.important part of marketing. All of these enterprises . Marketing is used to identify the customer. advertising. and society at large. Evolution of marketing .
Selling Selling methods 1950s and A firm using a sales orientation focuses primarily on the 1960s selling/promotion of a particular product. related to a perception or attitude a firm holds towards its product or service. the product orientation and the selling orientation. this signifies a firm exploiting economies Production Production methods until the 1950s of scale until the minimum efficient scale is reached. A firm employing a product orientation is chiefly Product Quality of the product until the 1960s concerned with the quality of its own product. this entails simply selling an already existing product. Throughout history. marketing has changed considerably in conjunction with consumer tastes. namely. A production orientation may be deployed when a high demand for a product or service exists. Western Orientation Profit driver European timeframe A firm focusing on a production orientation specializes in producing as much as possible of a given product or service. Such an orientation may suit scenarios in which a firm holds dead stock. in the marketing context. essentially concerning consumers and end-users. or otherwise sells a product that is in high demand. Earlier approaches The marketing orientation evolved from earlier orientations. with little likelihood of changes in Description . people would buy and consume the product. A firm would also assume that as long as its product was of a high standard. Consequently. and using promotion techniques to attain the highest sales possible. the production orientation. and not determining new consumer desires as such.An orientation. Thus. coupled with a good certainty that consumer tastes will not rapidly alter (similar to the sales orientation).
New forms of marketing also use the internet and are therefore called internet marketing or more generally e-marketing. a firm would employ market research to gauge consumer desires. use R&D to develop a product attuned to the revealed information. business marketing or industrial marketing with focus on an organization or institution and social marketing with focus on benefits to society. search engine marketing. The 'marketing orientation' is perhaps the most common orientation used in contemporary marketing. and is sometimes calledpersonalized marketing or one-to-one marketing. 1980s to In this context. marketing takes place present between businesses or organizations. but also includes marketing done via e-mail and wireless media. Internet marketing is sometimes considered to be broad in scope. desktop advertising or affiliate marketing. It targets its audience more precisely. It attempts to perfect the segmentation strategy used in traditional marketing. because it not only refers to marketing on the Internet. As an example. It involves a firm essentially basing its marketing plans Needs and Marketing wants of customers 1970 to present day around the marketing concept.consumer tastes that would diminish demand. Contemporary approaches Recent approaches in marketing include relationship marketing with focus on the customer. online marketing. The product focus lies on industrial Description Relationship marketing /Relationship management Building and keeping good customer relations Business marketing /Industrial marketing Building and keeping relationships . The aim is to provide the best possible customer service and build customer loyalty. and thus supplying products to suit new consumer tastes. and then utilize promotion techniques to ensure persons know the product exists. Western Orientation Profit driver European timefram e Emphasis is placed on the whole 1960s to relationship between suppliers and present day customers.
advertising and communication to the customer are used. in either product. the market change identification approach and the product innovation approach. "branding" is the main company philosophy and marketing is considered an instrument of branding philosophy. In this context. A firm in the market economy survives by producing goods that persons are willing and able to buy. there are three ways of doing this: the customer-driven approach. such as promotion. ascertaining consumer demand is vital for a firm's future viability and even existence as a going concern. 1980s to Branding Brand value present day Customer orientation Constructive criticism helps marketers adapt offerings to meet changing customer needs. Consequently. day Different forms of marketing activities. or selling methods. Similar characteristics as marketing Social marketing Benefit to society 1990s to orientation but with the added proviso that present day there will be a curtailment of any harmful activities to society.goods or capital goodsrather than between organizations consumer products or end products. production. . This implies that the company focuses its activities and products on consumer demands. Generally. Many companies today have a customer focus (or market orientation).
In the consumer-driven approach. The other 3P's of service marketing are: process. Information. physical environment and people. The work of Christensen and colleagues on disruptive technology has produced a theoretical framework that explains the failure of firms not because they were technologically inept (often quite the opposite). rather. placement. This system is basically the four Ps renamed and reworded to provide a customer focus. they simply add extra dimensions of awareness and caution to it. in recent years service marketing has widened the domains to be considered. The lessons drawn from this work include: . Some qualifications or caveats for customer focus exist. No strategy is pursued until it passes the test of consumer research. Product → Solution Promotion → Information Price Place → Value → Access If any of the 4Ps were problematic or were not in the marketing factor of the business. but because the value networks in which they profitably operated included customers who could not value a disruptive innovation at the time and capability state of its emergence and thus actively dissuaded the firms from developing it. Access). consumer wants are the drivers of all strategic marketing decisions. The starting point is always the consumer. price. contributing to the 7P's of marketing in total. A formal approach to this customer-focused marketing is known as SIVA (Solution. Value. The rationale for this approach is that there is no reason to spend R&D funds developing products that people will not buy. promotion) of marketing management. Every aspect of a market offering. History attests to many products that were commercial failures in spite of being technological breakthroughs. They do not invalidate or contradict the principle of customer focus. so the consumer demand on its products will decrease. including the nature of the product itself. the business could be in trouble and so other companies may appear in the surroundings of the company. The SIVA Model provides a demand/customer-centric alternative to the wellknown 4Ps supply side model (product. However. is driven by the needs of potential consumers.
a marketing department could ascertain (via marketing research) that consumers desired a new type of product. simply because their potential to grow and intersect with established markets and value networks looks like a likely bet. but only 10% of them actually buy the new items once they are offered. IT hardware and software capabilities and automobile features are examples. bleeding red ink. Information from an organization's marketing department would be used to guide the actions of other departments within the firm. The extent to which customers are currently ignorant of what one might argue they should want—which is dicey because whether it can be acted upon affordably depends on whether or how soon the customers will learn. Customers who in 1997 said that they would not place any value on internet browsing capability on a mobile phone. With this in mind. is not violated here—just expanded upon. Other caveats of customer focus are: The extent to which what customers say they want does not match their purchasing decisions. even if they themselves discount the prediction." Thus one could argue that the principle of customer focus. acquiring them outright. This means looking beyond current-state customer focus to predict what customers will be demanding some years in the future. or being close to the customers. otherwise. or 6% better fuel efficiency in their vehicle. Taking customer focus with a grain of salt. a firm's marketing department is often seen as of prime importance within the functional level of an organization. Organizational orientation In this sense. A lesson from this type of situation is to be smarter about the true test validity of instruments like surveys. Pursuing new markets (thus new value networks) when they are still in a commercially inferior or unattractive state. treating it as only a subset of one's corporate strategy rather than the sole driving factor. because the value proposition of those opportunities has changed. Thus surveys of customers might claim that 70% of a restaurant's customers want healthier choices on the menu. or be convinced. or a new usage for an existing product. As an example. or incubating small. This may involve buying stakes in the stock of smaller firms. This might be acceptable except for the extent to which those items are moneylosing propositions for the business. the marketing department would inform the R&D department to create a prototype of a product/service based on consumers' new desires. might say something different today. . financially distinct units within one's organization to compete against them. A corollary argument is that "truly understanding customers sometimes means understanding them better than they understand themselves.
Additionally. Finance may oppose the required capital expenditure. a firm's finance department would be consulted. Production may oppose the installation. The Economist reported a recent conference in Rome on the subject of the simulation of adaptive human behavior. Herd behavior Herd behavior in marketing is used to explain the dependencies of customers' mutual behavior. eBay).g. Amazon. etc. which may be needed to manufacture a new product. It shared mechanisms to increase impulse buying and get people "to buy more by playing on the herd instinct. custom media and reality marketing. distribution. Diffusion of innovations research explores how and why people adopt new products." a Massachusetts company exploiting knowledge of social networking to improve sales. a Japanese chain of convenience stores which orders its products based on "sales data from department stores and research companies. New York)." Other recent studies on the "power of social influence" include an "artificial music market in which some 19. Further orientations An emerging area of study and practice concerns internal marketing. production and promotion of the product. With consumers' eroding attention span and willingness to give time to advertising messages. while the marketing department would focus on the promotion. 3. including smart card technology and the use of Radio Frequency Identification Tag technology.The production department would then start to manufacture the product. marketers are turning to forms of permission marketing such as branded content. which is appealing to supermarkets because it can "increase sales without the need to give people discounts.. since it could undermine a healthy cash flow for the organization. services. pricing. principles and utility of marketing . should a firm adhere to the marketing orientation. support and servicing of new capital stock. of the product. and online retailers who are increasingly informing consumers about "which products are popular with like-minded consumers" (e. Inter-departmental conflicts may occur. and several feedback mechanisms to get product popularity information to consumers are mentioned. and ideas. A "swarm-moves" model was introduced by a Florida Institute of Technology researcher. or how employees are trained and managed to deliver the brand in a way that positively impacts the acquisition and retention of customers." The basic idea is that people will buy more of products that are seen to be popular. Functions. with respect to securing appropriate funding for the development.000 people downloaded previously unknown songs" (Columbia University.
targeting a specific market. the transport and storage of goods. Other functions of marketing : Buying . extension to a new market. distribution. distribution) so that the profitability is increasing. It depends on the capacity of the management to use the resources effectively. This is the main function of all marketing activities. Selling . Full satisfaction of demand. airplane. Permanent adaptation to the requirements of social and economic environment. This function is especially important for perishable products such as fruits and vegetables. packaging. As a company manages to accomplish better the market requirements. transportation. selling and buying. It assumes the optimization of all economic processes (production. increase its turnover and surpass its competitors. Transportation includes rail road. storage. and telecommunications for non-tangible products such as market information. A company's adaptability can be measured by comparing the dynamics of the supply it is providing to the dimension. All these areas involve numerous marketing actions that are distinguished between general and specific functions.producers function within a free market to sell products to consumers. ship. Storage . structure and level of demand. Maximizing of economic efficiency.products must be stored and protected until they are needed. rise. This is the objective of any company that aims for a rewarding economic activity. The general functions of marketing are: Market and consumer research. This is the foundation of all decisions: formulating the strategy. This function implies obtaining the information about the current market situation and future perspectives. This is a very important function. designing a new product or service. truck.people have the opportunity to buy products that they want. financing and procurement. its chances to gain profit. This implies the employment of all resources in order to operatively accommodate to the market demands.The functions of marketing are embodied in the aggregate of economic activities related to the transfer of property right. Transportation -products must be physically relocated to the locations where consumers can buy them. Financing .banks and other financial institutions provide money for the production and marketing of products. .
such as television. Information about: the structure and dynamics of demand. . or natural disasters.for example. price movements. like wheat. The market needs to be studied and future trends forecasted. There are four types of utility. Utility is the use or satisfaction a person gets from a product.insurance companies provide coverage to protect producers and marketers from loss due to fire. trees are processed into lumber. THE FOUR UTILITIES OF MARKETING The marketing process must also add "utility" to the products consumers want. If you ordered french fries with your lunch and the waiter brought you a raw potato. The company needs to produce what it can sell. prune trees. theft. The customer must be helped to make a choice. not company for marketing. For example. Form Utility . For this reason.Many products are graded in order to conform to previously determined standards of quality. weather.processing involves turning a raw product. Anticipation of consumer preferences.information from around the world about market conditions. Risk-Taking . bread.Processing . the internet. Grading and Standardizing . You will be able to use the saw to cut fire wood. various information from the market need to be collected and analyzed. 1 Marketing involves more than its functions. and political changes. into something the consumer can use -. when you purchase US No. and phone. tastes and preferences of consumers. If you purchase a chain saw you anticipate that you will receive a certain amount of utility from it. All resources need to be invested in the business and the staff needs to be motivated to adhere to the company's general objective. can affect the marketing process. Achievement of these principles guides the company to attain the final objective and has a long term perspective of efficient activities. It has certain principles of organizing the company's activity: Market knowledge. and potatoes are processed into french fries. you probably wouldn't be too happy. wheat is processed into bread. Market Information . and take care of a variety of jobs around your home.a product must be processed into a form that the customer wants or needs. Marketing for the company. not to sell what it can produce. Market information is provided by all forms of telecommunication. For example.
and often this requires some type of storage facility. Thanks to our modern transportation systems you don't have to. Each marketing problem requires unique solutions. you certainly wouldn't want to have to drive to California to buy oranges. 4. The problems are often very complex and require students to sort through information. also provide a user license. Time Utility . carefully evaluate the alternatives. Marketing strategy Marketing strategy is not an exact science. you simply drive to the local grocery store and oranges are there ready to add to your shopping cart -. the following general guidelines will enhance your team's performance.Place Utility . choose and defend a particular solution. and determine a method through which to implement the solution.place utility. If followed carefully.this could be described as being in the right place at the right time when a customer is ready to purchase a product. People who are able to think strategically and analytically have a much greater probability of success in the business world than others.possession utility establishes legal ownership of a product. organize the facts. When you purchase something you normally receive a receipt. Wheat is one example of a commodity that must be stored after it is harvested. for example. Creating and keeping customers means having products available for when they want them.place utility involves transporting products to the location where consumers can buy them. With practice you can master the marketing strategy method. this provides legal ownership and the right to use the product. It is stored in silos until processors are ready to convert it into food products such as bread or cereals. formulate alternatives. The marketing strategy project itself is a close approximation to actual decision-making. Marketing strategy projects provide students with the opportunity to learn more about solving actual marketing problems. A license of this kind gives you the right to use the product within certain guidelines. Some products. This can provide a valuable learning experience for students as many professional managers use a marketing strategy approach in routine problem solving. • Product promotion . product distribution and price strategy . determine concisely what the problem is. computer software. discern what is relevant. which will help you sharpen the decision-making skills. It is an art. If you live in Alaska. Creative solutions to customer problems are highly prized in marketing! The strategies used in marketing are : product promotion . Possession Utility .
many companies strategically plan how and where their products will be arranged in the stores. companies have the ability to advertise and promote their products to anyone. many companies have been trying to utilize online social media for product promotion. Along with certain color choices. there is not necessarily one communication medium that is better than another simply because the most affective medium is based on what type of product you are promoting. Twitter. and calmness. companies try to use bright. attractive displays depicting excitement. Because of the vast popularity of social media. A few examples of color and product relation would be a cleaner product using green on their package or advertisement to ensure the customer that the product they are buying will successfully meet their needs. relaxation. at anytime. To attract consumer attention. draw attention away from any other color. both of which require clear and concise textual information about the product being advertised. Within an online social media network. or happiness. There is the physical form of product promotion and the digital form. anywhere in the world. companies have had great success on marketing products to the younger generation who otherwise might not have seen an ad in a newspaper or on TV. Using colors like yellow and orange provoke excitement in the consumer. . colors like blue and green establish trust. The colors you choose to incorporate in your in-store ads or product packages will need to be well planned in accordance to your audience. Some of the most popular forms of online social media are Facebook. Many companies use different techniques to promote their products through a vast array of communication mediums. companies still try to use effective techniques of physical product promotion in stores or on the street. and MySpace. The strategy behind promoting a product affectively is knowing who your target audience is and what appeals to them. red is a unique color in that it can provoke a sense of warning and danger but also at the same time.Product promotion is the act of advertising a good or service with the short/long term goal of increasing sales. Many chewing gum manufacturers position their products at the checkout lines where customers are more likely just to grab the gum because the wrapper looks attractive and it’s convenient seeing that the checkout process has already begun. Since the turn of the 21st century. many consumers who enter grocery stores are not specifically looking for chewing gum. For instance. Physical Product Promotion Outside of online product promotion. Another example would be a water bottle distributor using blue on their labels to promote freshness and ensure the consumer that the water they are drinking is of the purest nature. cleanliness. In this day and age.
except by mail order. Over the past ten years the physical product promotion aspect of marketing has become less and less important to consumers seeing that many individuals spend most of their time watching TV or surfing the web. many personal health product companies use very elaborate eye-catching designs on their packages to draw the customer’s attention away from the other personal health products that may be on the same shelf or at the same eye level. there is a form of trade-off: the cost of using intermediaries to achieve wider distribution is supposedly lower. An organization or set of organizations (go-between) involved in the process of making a product or service available for use or consumption by a consumer or business user. their job is finished. their job should really be extended to managing all the processes involved in that chain. this is not to say that companies are investing any small amount of money into the research and development of effective physical product promotion. As mentioned before. Many suppliers seem to assume that once their product has been sold into the channel. • Product distribution Product distribution (or place) is one of the four elements of the marketing mix. colors on the packaging play a very important role in this circumstance simply because you usually have so any choices to choose from when shopping for personal health items. into the beginning of the distribution chain. Managerial concerns The channel decision is very important. For example. In theory at least. most consumer goods manufacturers could never justify the cost of selling direct to their consumers.Now of course most products can be found on different shelves throughout the store and heavily rely on their packaging to attract the consumer’s attention. Indeed. This may involve a number of decisions on the part of the supplier: Channel membership Channel motivation Monitoring and managing channels Type of marketing channel . the construction of their product packages and advertisements are still of the utmost importance. if they have any aspirations to be market-oriented. Yet that distribution chain is merely assuming a part of the supplier's responsibility. However. until the product or service arrives with the end-user. and.
they may complement a direct sales-force. Motivating the owners and employees of the independent organizations in a distribution chain requires even greater effort. e.Where the majority of resellers stock the 'product' with convenience products. Effective management of distribution channel requires making and implementing decision in these areas. Exclusive distribution . so will those of the distribution chain. many organizations use a mix of different channels. exclusive outlets of cars. He describes this as selling business models not products. and particularly the brand leaders in consumer goods markets (price competition may be evident).g.This is the normal pattern (in both consumer and industrial markets) where 'suitable' resellers stock the product. Julian Dent defines this incentive as a Channel Value Proposition or business case. with agents. There are many devices for achieving such motivation.Only specially selected resellers or authorized dealers (typically only one per geographical area) are allowed to sell the 'product'. apparels and jewelry. for example. in particular. to tempt the owners in the channel to push the product rather than its competitors. Product Distribution: Not All Tounge and Cheek Written by Marketing. furniture etc. In this case retailers can keep the competitors products in their outlets e. In practice. covering the smaller customers and prospects. or a compensation is offered to the distributors' sales personnel. Channel motivation It is difficult enough to motivate direct employees to provide the necessary sales and service support.g. calling on the larger accounts.com Support . 3. so that they are tempted to push the product. Perhaps the most usual is `incentive': the supplier offers a better margin. 2.1. In this retailers are restricted to keep only one manufacturer's products. etc. Monitoring and managing channels In much the same way that the organization's own sales and distribution activities need to be monitored and managed. These channels show marketing strategies of an organization. Intensive distribution . Selective distribution . with which the supplier sells the channel member on the commercial merits of doing business together.
created a YouTube video that quickly went viral. it costs to distribute a product and costs to promote it. which generates a turnover for the organisation. While Wal-Martclaims the You-Tube videos did not influence their decision to stock the product. as it is the only mix. Pricing should take into account the following factors: 1. Unlike decisions related to product. Company objectives 4. The remaining 3p’s are the variable cost for the organisation.500 stores. which sells a somewhat unusual product tongue cleaner . Competition 3. The interest caught the attention of several retailers including Wal-Mart who agreed to place the product in 3. Price must support these elements of the mix. pricing and promotion. the company. 2. a better approach may be to use creative methods that capture the final consumers attention. these strategies are designed to target final consumers with the hope they will then ask for the product at retail stores. it is hoped the retailer will agree to distribute the product. the most common method is a "push" promotion approach. other retailers did point to consumers' interest in the videos as a key reason for their decision to handle the product. While getting a meeting with a retailers buying staff is not hard for well-known companies. Labeled as "pull" promotion. Proposed positioning strategies. meeting distribution objectives often means the marketer is at the mercy of retailers decision to stock a marketers product. After several unsuccessful attempts to obtain distribution through the use of sales calls. This problem is especially challenging for marketers selling products in retail stores where they must battle many other companies that are also trying to convince retail store buyers to sell their products. Here is a story of one creative way that a small company used to build up consumer interest.” • Price Strategy Pricing is one of the most important elements of the marketing mix. Fixed and variable costs. They soon discover that convincing a buyer just to schedule a meeting is as difficult as convincing them to buy the product. For smaller firms. When it comes to buyers learning about a companys products. Once enough voices are heard. a selling opportunity like this is much more difficult for small companies that have yet to establish a track record. . where sales people knock on customers doors. Pricing a product too high or too low could mean a loss of sales for the organisation.“The most frustrating decision facing all consumer products marketers is the one they have the least control over distribution. Pricing is difficult and must reflect supply and demand relationship. It costs to produce and design a product.
000 Euros. if people only made purchases on price alone 93% of organisations would be out of business. For example. Some words about the tricks used to put the prices (Written by Marketing. So. As with any objection. we make our purchase.5. Very often what is perceived as a price objection is actually a request for more information. Interestingly. If people are informed of the price too early. Then. Its too expensive an experienced sales person will drill-down to find out why they are making this statement. its value will be perceived as dramatically higher meaning that when the seller tells you that its 10. Alternatively. My advice is always to post pone talking about prices until after you have demonstrated the value of your product or service. Target group and willingness to pay. Precision questions can achieve this such as: o o o How do you know? Compared to what? Compared with whom? If a sales person asks why? this will only encourage the prospect to reiterate all the reasons why they believe you are expensive. if a prospect says. its important to understand the basis of their objection. well come back and discuss the price in detail when we both know what you need. in our heads we go through an internal process of evaluating whether its worth it and if we decide that it is.com Support ) : “ Soon error later whenever any of us buys something we will want to know the price. you d be very closed about what the seller was going to say next. The pricing strategies are based much on what objectives the company has set itself to achieve. When customers perceive the value of a proposition outweighs the risks then generally speaking they will go ahead and make the purchase. if you were told that a grubby stone was 10. without knowing the price we are unable to decide. if its all right with you. you will have already appreciated the fact that its a diamond. if you were shown an uncut diamond that was thirty carats with a photograph of how it would look cut. For example. Price objections can be dealt with much more effectively by incorporating the following suggestions within your teams sales approach.000 Euros. which installs this belief at a deeper level making it harder to overcome. . An organisation can adopt a number of pricing strategies. If a prospect asks the price too early in the sales process its good practice to say something along the ines of: Before we can discuss prices we both need to be absolutely sure that we are right for you. they will make an instant judgment that can close their mind towards what you are telling them.
you have created a stronger platform to up-sell from. (feature) it washes twice as many plates as Brand B (benefit). then change the deal. and help the prospect understand how it will make them feel. if . Once the prospect is satisfied that your prices are pretty much the same. Good sales people are able to paint a graphic picture of what is at stake. For example. they will project this unconsciously onto their prospects. Its important that your team really believe in the value of what they are offering. so that they are better equipped to convince their prospects. This reduces the amount in their mind and is another opportunity to highlight the additional benefits they will gain. So. In fact. The smaller the number the more attractive it will to the prospect. It is also a good idea to break down the price into small chunks. Brand A costs more to buy initially than Brand B. it emise the cost for each element. the price of something is what the customer invests now. If you need to lower the price. yet because Brand A is more concentrated. from their voice tone. Its much more effective to give the prospect something they have asked for and makes it easier for them to compare prices. If your team are completely convinced that their product or service offers superb value for money then their entire communication.97 a week.Customers will often pay more for added value. you imply that you were asking too much in the first instance. quantify the value. their eye contact and their gestures will convey VALUE. This helps to build the value because prospects can see at-a-glance all the elements involved and the individual prices for each element will be lower than the total sum. A product/service that requires a higher initial investment may be more cost-effective and provide long-term better value for money. and what you are asking for. Ultimately. The cost is what they end up paying in the longer term. Focus on the difference between what they say they are willing to pay. If you are producing a quotation for a product or service than has multiple elements. imagine two brands of dishwashing liquid. such as cost per use or per week. You will get all these extra benefits for just (difference in price) a week more than you are paying at the moment. and it helps put a manageable context around the prospects possible outlay. If your team are unsure about the value their product or service can provide. If you have correctly identified the prospects requirements and proposed aligned solutions then chances are. For example. which is usually related to one of the Three Rs: Reputation/Reliability/Relationship. And you can enjoy all those benefits for just 2. overall Brand A is actually much better value in the longer term. This can help you to maintain your credibility and justifies the reason for you lowering your price. Take out aspects of your proposition to bring the cost within their budget. you wont be suggesting a Rolls Royce version when the customer was requiring a Mini. If you simply comply with their request to match a competitors price.
#2: Interaction is Where Its At! True interaction via social media can be a tough tactic for many marketers to master. If it can be searched it can be optimized. Which tactics are you happy to say you’ve implemented and which mistakes will you admit to? 10 Social Marketing Things You Must Do! #1: Save Time. A simple tactic is to ask questions that inspire a response. Keep the same strategy in mind for your social media content. Be sure to change elements of your posts in order to either highlight different information within the post or target a different segment within your audience. and you care about what they are saying. I’m going to go out on a limb and assume that you have some sort of optimization in place for your website. Recommendations for the companies that want to obtain the best success. . marketers must also decide best practices and what tactics to avoid . With so many social media marketing options available. #4: For Petes Sake! Make it Searchable.you calculate the investment per plate then you have reduced the price to the lowest common denominator. and the most successful sales professionals anticipate them and deal with them head on! “ 5. Objections do not go away. We all make mistakes as marketers and its important that we not only learn from those mistakes but share with others so that they can avoid them. Simply spitting out the same information over and over again will not work. While this is a great tactic it is important to be thoughtful about the way that you are re-using content. Finding the correct balance of self promotion and intriguing content that inspires action can be very instrumental in using social media appropriately. Social media users are interested in fresh new ways of presenting content and ways that they can share it with their networks. #3: Try Multiple Media Types. Take some time to comment or interact with your current clients and prospective clients to show that you are there. The question for most companies is HOW to best execute a meaningful and engaging approach that generates results. Re-purpose Content. It is no longer a question of IF companies should execute a social media strategy. I hope that the 20 Social Media Marketing Dos and Donts that Ive provided within this article not only entertain you but make you think about your current social media strategy. In fact certain forms of media such as info graphics or videos have a tendency to be much more sharable and appealing. Try to incorporate some new media types into your social media content plan for the year. they are real.
Deleting information or simply refusing to answer area big marketing fail. P. at one time or another you’ve found yourself screaming at the automated help desk for your credit card . While you don’t want to discourage interaction or squash the dreams of your team it is important that the voice of your social media strategy represents who you are and what you believe in as a company. #2:Have You Ever Tried to Have a Conversation With a Robot? If you are like me. I don’t want to discourage planning big but make sure that you have an effective means of measuring your success in order to identify the true ROI of your online marketing strategy. #6: Customize the Flow If you’re like us you have multiple audience members to provide information to online.S. #10: Be Innovative. Is hared an example last week of Chap Sticks reaction to unfavorable responses from their network.#5: Keep Calm in a Crisis The last thing you need is your social media intern Sarah having a meltdown at the first sign of something unfavorable being said about your brand on social media. False. #9: Pull Out the Tool Box and Find Your Measuring Tape If you create a beautiful piece of furniture but cant fit it through the front door what was the point? The same applies to your online strategy. Do your homework. #8: What Was the Purpose of This Again? Remember why you’re using social media in the first place. or at Least Open to Innovation You don’t have to be cutting edge to run a successful social media program. it doesn’t hurt to have your eyes and ears open to the latest trends. Trish from accounting that posts on her social network about the copious amounts of alcohol consumed Tuesday night and the terrible time she’s having at work the next day may not be the best resource for networking your company. what sites do your different audience members participate in and what topics are of importance to them? #7: Don’t Let Just Anyone Represent Your Brand In the past some companies have encouraged all team members to participate in the promotion of their brands because they work edunder the notion that more was better. However. Experiment with your strategy to find new and interesting ways top resent the same information to your networks. By setting a set of realistic and attainable goals you will be able to test what works and what doesn’t and adapt your online marketing strategy from there. This could be different verticals or even different departments within a single organization. Ignoring it doesn’t count as a plan. By keeping a level head and having an emergency preparedness plan ready should disaster strike you will be able to calmly and rationally tackle the issue. Social Marketing Things to Avoid! #1: Hello? Is Anyone Listening? One of the worst things that you can do is ignore your audience.
Our company is great. or competitors but there is no need to be impolite. #4: Accounts Covered in an Inch of Dust. Try to spare your online audience of the same exasperation and create thoughtful and conversational content. #6: The Nameless & Faceless Group from Company XYZ In order to make friends online you need to be friendly. You assign a task to your marketing team to sign up for these accounts. Leave the robots for the other guys. Instead of utilizing your platform as a means for marketing your products and services try instead to offer information that can help solve the business problem of your prospects. Sure they’ve signed up to receive updates on your company but is that really enough? If your ultimate goal is to gain them as new clients then it is important to have a personalized and meaningful flow of communication that sets next steps in the relationship. #7: Taking Your Relationship To the Next Step. If you want to gather a set of your . #8: We Really Care About You. Part of being friendly means adding a personal note to your social media profiles. colleagues. If you cannot commit to utilizing a platform on a regular basis and setting it up in a way that clearly represents your brand then what is the point. and unfortunately that is as far as it goes.company beyond frustrated that you couldn’t speak with a live representative. Handle these relationships with the same care that you would your other business relationships. hire us now! I consider each of these to be obnoxious and pitiful tactics for engaging followers. Spending countless time and effort to engage with prospects only to abandon them is a completely useless tactic. Romancing your prospects does not end at gaining them as followers. There is nothing wrong with disagreeing with audience members. #9: We Have No Idea What is Important To You. An example would be recommending that you have a phone conversation or possibly meet in person to discuss some business opportunities. #10: What Are All of These Followers For Any ways? Now that you’ve built up this community of online followers what can you use it for? Your online community is a great resource for crowd sourcing content and brainstorming ideas. Just Kidding. All social media sites are not created equal. If your social strategy for Twitter. This is an instance where a little bit of extra effort can go a long way. we have so much to offer you. #3: I Know You Are But What Am I? It is difficult if not impossible to take things back once you’ve said them online. and LinkedIn are all exactly the same you may want to reconsider your plan. If you take a do unto others approach you will save yourself and your company a lot of damage control. Facebook. Snap some impromptu photos around the office and share a little bit about some of the key team members. Don’t do it just to do it. You did some research and found 10 new social networking platforms that your company is not signed up for. As marketers we must consider not only the type of interaction that typically happens on a given platform but also the audience we are trying to reach with that platform. #5: One Size Does Not Fit All.
Gemeni . Malldova . prices for a small number of national producers on the market. radio . Marketing in the Republic of Moldova has some specifics . I am curious to know if you have any other no brainer social media tactics that you’d like to share? They can be funny. I look forward to laughing. and sighing with you. Anyhow .Unic. So we can’t speak about big strategies of promotion. the sphere of production is not so developed . Jumbo Megapolis Mall . were you can discover a new world of brands. pretty much anything you want as long as they’re true. If you have a moment to fill out the survey below I’d love to get some feedback from you regarding this post and your personal experience with social media marketing. marketing for international products is more developed than the first . First of all we can limit two parts of marketing in our country : one for national products and another for international products. Calvin Klein “Just do it” –Nike “Because we worth it “ from L’Oreal “ Impossible is nothing “ –Adidas “Maybe we were born for it maybe it's Maybelline “ . Anyone could recognize a lot of commercials . cringing. magazines . Also . The well-known slogans of international products observed in Republic of Moldova : • • • • • • • “I’m lovin it” from Mc’donalds “Melt in your mouth not in your hands “ from m&m’s “Perfume obsession” . Elat . we don’t have to forget about a lot of commercials on TV . “Nomen est omen –numele este un semn prevestitor” for wines from Cricova . insightful. I know that a lot of these tips may seem like no brainers to you some of you. mistakes can have a significant impact. distribution . Sun City . 6. there exist some well-known Moldovan slogans : • • • • “Dulciuri pentru orice vis. slogans and other types of promotion for international products in our country . If to speak about first . Another part . Here come the big markets : Metro . In general in Republic of Moldova .own statistics why not go to your online community and ask them to participate in a study or survey and share the results with everyone. cu Nefis “ at the company of biscuits Nefis “O parte din viata noastra “ for the water Gura Cainarului “Dragostea si caldura inimilor noastre in produsele noastre “ from Franzeluta . there is easy to see that it doesn’t know a big success. but in the fast changing world of social media.
we the younger generation will try to develop our marketing industry . because people have to know what they consume . Between them are: • • • • • Content Quality Aesthetics Humour Interesting subject Unfortunately in our country business people don’t use always these characteristics . Anyhow . . and so in many situations appears problems with promotion. to make it better and better.This classification of Moldovan people’s choice is based on advertisment characteristics most appreciated by the Moldovan public .
Practical part Experimental Lot In our research we started from measuring the marketing importance. . The experimental lot that we chose was our peers. which constitues basically 19-20 year old teenagers. We took 100 students from the book keeping.III. They have been tested individually.
unless you have already established a reputation in the industry. public relations. These two concepts are different in many aspects. It is the process of introducing and promoting the product or service into the market and encourages sales from the buying public. Marketing covers advertising. But if you are a start-out company.objectives and influence. marketing helps boost sales and revenue growth.IV. the more they will be interested to buy. This is a technique for the consumers to easily associate the brand name with the images. Marketing Helps Boost Product Sales Apart from public awareness about a company’s products and services. No business possibly ever thought of just letting the people find out about the business themselves. and they don’t have to ignore this . So . Whatever your business is selling. Sales refer to the act of buying or the actual transaction of customers purchasing the product or service. logo. or caption that they hear and see in the advertisements. Marketing Promotes Product Awareness to the Public It has already been mentioned in the previous paragraph that getting the product or service recognized by the market is the primary goal of marketing. promotions. Your business may be spending on the advertising and promotional programs but the important thing is that product and company information is disseminated to the buying public. online ads. In other words we can say that marketing is our society . Production and distribution depend largely on marketing. marketers aim to create a brand name recognition or product recall. and other forms of marketing. for a company is very important to use marketing strategies for maximizing of economic efficiency . The more people hear and see more of your advertisements. newspaper ads. radio commercials. it will generate sales once the public learns about your product through TV advertisements. the only means to be made known is to advertise and promote. Many people think that sales and marketing are basically the same. Conclusions In conclusion we can say that marketing has a very important role in our lives . and sales. . Every part of life is determined of marketing principles . Marketing Builds Company Reputation In order to conquer the general market.
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